Tall Poppy Picton
Real Estate Agents
- Listing #:
- TPPI6080
- Listed:
- 125 days ago
$825,000
3 Flats - $7.8% return - $64,740/year
Units 1-3/91 Waikawa Road, Picton, PictonResidential Unit
-
- 2 Bedrooms
-
- 1 Bathroom
-
- 300m2 Floor Area
-
- 449m2 Land Area
About this property
Vendor Says SELL — Now $825,000Gross return at current rents: ~7.8% (combined $1,245/week = $64,740/year)
Outstanding Investment or Multi-Living Opportunity – Walk to Picton, Marina and Foreshore
The vendor wants this sold now and has priced it to attract attention. A solid 1970s home converted into three self-contained flats, all currently rented, in a sunny, easy-care location just a short stroll to Picton Marina and the vibrant CBD.
Whether you’re looking for a high-yield investment, multi-generational living, or affordable accommodation with income, this opportunity delivers — and it’s priced well below replacement value.
- The Offer
Now $825,000 for the entire property
Current combined rent: $1,245/week = $64,740/year
Indicative gross yield: ~7.8%
- Current Configuration
Flat 3 – Top Floor:
3 bedrooms + office/study, two balconies, open-plan living
Rented at $520/week
Indicative value $440,000 | ~6.1% yield
Flat 2 – Ground Floor:
2 bedrooms, well-laid-out with a good tenant
Rented at $300/week
Indicative value $270,000 | ~5.8% yield
Flat 1 – Ground Floor:
2 bedrooms, tidy and well-maintained
Rented at $425/week
Indicative value $330,000 | ~6.7% yield
- Additional Features
Off-street parking for each flat
Separate power meters
Easy walk to cafés, waterfront, ferry terminal, and local walks
Don’t Miss This
With the vendor’s clear instruction to sell now, and a very attractive $825,000 price tag, this is an opportunity that won’t last.
Properties offering such strong returns and central location are rarely available.
? Contact Grant today for full details or to arrange a private viewing.
Viewings by appointment only.
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